LINK Rebounds Toward $25 With Strong Momentum
Chainlink (LINK) has gained over 6% in the past 24 hours, pushing prices to around $24.49 as renewed buying pressure lifts sentiment across the market. The move comes after weeks of consolidation, with LINK now testing a critical resistance zone that could determine its next direction.
On the daily chart, LINK is consolidating near the $24–$25 range, trading just below a significant resistance band marked by the $26–$28 supply zone. This level has previously capped rallies, making it a key hurdle for bulls.
“If Chainlink closes above $25 with volume, it could signal continuation toward the $28 level,” According to BITX market analyst observed. “Failure to break this resistance may lead to another retest of the $21–$22 demand zone.”
The $21 level remains the nearest support, followed by the $15.50–$16 region, which has acted as a strong accumulation zone in previous cycles. The breakout from the earlier descending channel in April confirmed a shift in momentum, and LINK has since climbed nearly 70% from its yearly lows.
“Chainlink continues to show strength relative to other altcoins, holding above critical supports and attracting steady demand from long-term holders,” BITX strategist explained. “As long as it stays above $21, the trend remains in favor of the bulls.”
Looking ahead, the immediate focus is on whether LINK can sustain momentum above $25. A successful breakout could trigger a move toward $28 and potentially $30, while rejection at resistance may lead to sideways action between $22 and $25 in the short term.
With volume building and momentum indicators improving, Chainlink’s price action suggests further upside potential, provided the $21 support remains intact.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.